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BLUR, the native token of NFT marketplace Blur, is the number one gas burner on Ethereum. Earlier this week, Coinbase said they would launch trading of the BLUR-USD pair when there’s sufficient liquidity. And now, according to Etherscan.io, BLUR overtook UniSwap and Seaport in daily Eth trading volume.
Computational resources on Ethereum are measured in units of gas and paid for by users on the network in the native cryptocurrency ETH. Its 24-hour fees have surpassed $457,006.19, representing nearly 9.91% of all Ethereum network fees of the past day. This week’s airdrop has resulted in over $4 million worth of Ethereum being burned in the last seven days.
Blur’s Growing Dominance
BLUR’s total value locked (TVL) has witnessed a massive surge in the past 48 hours, reaching $121.42 million. This cemented its position as a dominant player in the NFT marketplace ecosystem. Interestingly, it also acts as an NFT marketplace aggregator. According to statistics, it was the largest in the ecosystem with a market dominance of almost 70%.
As reported previously by Coingape, Blur airdropped its BLUR tokens to more than 100,000 NFT traders. And just the following day, the company recommended NFT project creators prevent trades using OpenSea. There is no fee assessed to artists for using the marketplace. Read more crypto news here…
Massive Price Surge
BLUR price at the time of writing is $1.30 which represents an increase of 11.34% over the past 24 hours. Currently, its market capitalization is $504,594,132 and its 24-hour trading volume is up by 18.83%. Now it stands at $686,428,266. At the same time, the circulating supply is approximately 386,316,751 BLUR, according to CoinMarketCap’s crypto market tracker.
Also Read: Shibarium Beta To Go Live Next Week: Rumors or Reality?
Disclaimer: The information provided in this article “Blur Is the Number One Gas Guzzler on Ethereum” is solely the author’s opinion and not investment advice, it is provided for educational purposes only.
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